Aspen Technology (NASDAQ:AZPN) Trading 7.1% Higher

Aspen Technology, Inc. (NASDAQ:AZPN)’s share price was up 7.1% during trading on Wednesday . The stock traded as high as $203.13 and last traded at $202.24. Approximately 195,156 shares traded hands during trading, a decline of 5% from the average daily volume of 205,276 shares. The stock had previously closed at $188.77.

Wall Street Analysts Forecast Growth

AZPN has been the topic of a number of research analyst reports. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Sandler lowered their price target on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Robert W. Baird lowered their price target on Aspen Technology from $225.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology has an average rating of “Hold” and an average target price of $201.00.

Aspen Technology Stock Up 4.8 %

The firm has a market capitalization of $12.57 billion, a PE ratio of -139.83, a PEG ratio of 2.05 and a beta of 0.76. The firm’s fifty day simple moving average is $202.39 and its 200-day simple moving average is $196.44.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The firm had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. As a group, analysts predict that Aspen Technology, Inc. will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. Benjamin F. Edwards & Company Inc. raised its stake in Aspen Technology by 561.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after purchasing an additional 191 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Aspen Technology during the fourth quarter valued at $73,000. Fifth Third Bancorp lifted its position in shares of Aspen Technology by 94.4% in the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock worth $71,000 after purchasing an additional 170 shares during the period. Signaturefd LLC increased its holdings in shares of Aspen Technology by 152.3% in the 3rd quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock valued at $102,000 after acquiring an additional 300 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Aspen Technology by 276.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 674 shares of the technology company’s stock worth $144,000 after purchasing an additional 495 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Company Profile

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.